Presentation to AAA meeting 11 January 2014 Troika exit – can there be a recovery? - PowerPoint PPT Presentation

Presentation to AAA meeting 11 January 2014 Troika exit – can there be a recovery?. Reality v propaganda Underlying weaknesses in economy How can there be a real recovery?. “ Our economy is starting to recover. While we still have far too many people out of work, jobs are being created.

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To reach EU average investment rate, need an increase of investment of €13 billion. Private sector will not deliver

Investment stimulus of €1bn for one year would create approximately 16,750 jobs (NERI). The net cost of a €1bn investment is €575 million, because of greater tax revenues as a result of higher GDP. Therefore at a net cost of €5.175bn per year over three years, 150,000 jobs could be created (90,000 directly and 60,000 indirectly)